Correction: “ASCK” Auscrete Corporation’s Land Acquisition has a Major Breakthrough

Published 11:01 AM ET Wed, 12 July 2017
Globe Newswire

SHARES

Goldendale WA, July 12, 2017 (GLOBE NEWSWIRE) -- Auscrete Corporation, “ASCK” on the OTC, saw its offer to purchase 10 acres of land on the Goldendale Industrial Estate accepted by a unanimous vote at the Goldendale Council Meeting on July 3rd. The real estate agreement is currently being prepared by the City’s Attorney and should be complete within the next 10 days.

Goldendale Industrial Park

Goldendale Mayor, Mike Canon (center) with ASCK Director and former Mayor of Rufus OR, Cliff Jett at the left and ASCK CEO, John Sprovieri (right) inspect the property for the new ASCK Campus Construction

Meanwhile, ASCK’s design staff are preparing the final details of the initial two buildings to be constructed on the site. The first being a 25,000-sq. ft. production building. Then, once production is commenced in a few months, a second building of around 16,000 sq. ft. will be constructed to house the fabrication and rebar preparation facility.

Goldendale Mayor, Mike Canon said “we have seen a lot of positive interest in Auscrete’s decision to establish its plant here in this city. Of course, the benefits of having local jobs created are priorities for many folks but having a new company that sells and ships its products both state and nationwide provides considerable income for distribution into the local economy”.

Auscrete management personnel, Cliff Jett and John Sprovieri have already had talks with Industrial Development Representatives to define what long-term business support is available to ASCK.

Mr. Jett, who is a Director of ASCK, is the former Mayor of Rufus, OR and also a Marine Sheriff Deputy. He is very pleased that ASCK has made the move to Goldendale. Said Mr. Jett “we can benefit greatly from being in a city with a population that can create and sustain a stable local workforce. The company will also reward its shareholders with the acquisition of land, buildings and machinery putting valuable Revenue Producing Capital Assets onto the Company’s Balance Sheet”.

ASCK expects to start earthworks on the first building by early August and have both of their first two buildings completed by November and January. Production of housing materials will commence in the fourth quarter of 2017.

Company spokesman, Lee Odom, stated that “construction of the Company’s Flagship Facility in the heart of the Goldendale Industrial Estate will lead to 2018 being a terrific year in its projections for both Revenue and Net Income”. “This acquisition of land virtually overnight changes the landscape regarding the company’s value and makes it immediately apparent that there will be a boost in the Company’s outlook and its Share Price. 2018 looks to be a very vertical year in stock price for the tightly held and under-leveraged shares of ASCK” he added.